CMA launches consultation to pave way for prepayment meter price cap October 11, 2016 Britain's competition watchdog today started consulting on a draft order to show how its promised price caps for pre-payment energy meters can be implemented. The price cap for around four million households on prepayment meters was one of the 30 measures put forward by the Competition and Markets Authority as a result of its two-year investigation into the Big Six energy suppliers. [...]
Vauxhall MP Kate Hoey will fight Hilary Benn to lead parliament’s Brexit committee October 11, 2016 Vauxhall MP and prominent Leave campaigner Kate Hoey is to launch an audacious bid to lead parliament's Brexit watchdog, City A.M. understands. The powerful new Brexit committee is due to be formally created later today, and will be responsible for cross-party scrutiny of the UK's departure from the EU. Hoey has yet to formally launch her bid to [...]
The UK needs tech talent quickly and it doesn’t matter where it comes from (for now) October 11, 2016 The UK digital industry is one of the most successful in Europe. It now employs 1.6m people and contributes 10 per cent of GDP – that's the highest proportion of any country in the world. Crucially, tech has benefited hugely from a range of smart government interventions. The Tech Nation Visa Scheme; tax credits for research [...]
Asia minister announces “technopreneur” tie-up between Britain and Indonesia October 11, 2016 The Foreign Office has announced a new trade partnership with Indonesia to create a generation of “technopreneurs”, providing a signal of how post-Brexit Britain intends to look beyond the EU in developing economic ties. Britain's Asia Minister Alok Sharma MP, will unveil the plans during his trip this week to Indonesia, Singapore and Thailand. The project will fund training for young scientists [...]
London mayor Sadiq Khan to call on government to prioritise access to the EU’s Single Market October 11, 2016 London mayor Sadiq Khan will today urge the government to prioritise access to the EU’s Single Market as it enters crucial Brexit negotiations. Speaking at an event organised by the Confederation of British Industry (CBI), Khan will emphasise the need to “safeguard future economic prosperity and help maintain London’s position as a global financial centre”. [...]
Business rates that hit London need reform October 11, 2016 Business rates are a blunt instrument, one which is set to deliver a heavy blow to London’s retailers, offices and hotels. Rates are due to rise from next April after a revaluation of rateable values for England’s 1.85m commercial properties by the Valuation Office Agency. It is the first such revaluation since 2010. Analysis by [...]
Gatwick gets my vote for a new runway – but why can’t we let Heathrow expand too? October 10, 2016 As Britain begins the challenging process of navigating its way through uncertain times, one thing remains clear: the need for us to continue being a forward-looking trading nation. The latest predictions suggest that London’s airport system will be full in less than 10 years, which means additional airport capacity is more important than ever to show [...]
Theresa May should use Nobel-winning insights – not anecdote – to guide executive pay reform October 10, 2016 The 2016 Nobel Memorial Prize in Economics was awarded yesterday to Harvard’s Oliver Hart and MIT’s Bengt Holmstrom for their ground-breaking work on contract theory. Their work has profound implications for contracts in many fields: financing contracts between investors and firms, business contracts between customers and suppliers, and – most topically – employment contracts between [...]
The Single Market battle is the Remainers’ last stand in the Brexit war October 10, 2016 It has all the hallmarks of a last stand. Having abandoned resistance to the referendum result itself, Remainers are rallying to the cause of staying in the Single Market. Re-using the referendum hymn sheet, the same politicians, businesses and pressure groups who predicted doom and gloom from the decision to vote Brexit are now forecasting postponed doom [...]
Should we be worried that politics is getting nastier? October 10, 2016 Rachel Cunliffe, deputy editor at Reaction, says Yes. There’s a chasm between the policies of Hillary Clinton and Donald Trump, but you wouldn’t know it. In between Trump calling Clinton the “devil”, accusing her of having “tremendous hate in her heart” and threatening to prosecute her, there was precious little time for analysing policy. That’s politics [...]